Cisco's Fiscal 1Q18 Earnings Beat Analyst Estimates

The US-based (SPY) tech (QQQ) heavyweight Cisco (CSCO) announced its fiscal 1Q18 results on November 15 and reported revenue of $12.1 billion.

Walmart Stock Soared 10.9% on Stellar 3Q Results

Walmart (WMT) stock rose 10.9% to $99.62 after the company reported better-than-expected fiscal 3Q18 results on Thursday, November 16, 2017. Several analysts raised their price targets on the stock.

Home Depot Raised 2017 Guidance after Strong 3Q17 Earnings

Home Depot (HD) posted adjusted EPS of $1.87 on revenues of $25.0 billion. Compared to 3Q16, the company’s EPS rose 16.9%, while revenues rose 8.1%.

Pre-Market Report: Global Markets Are Mixed on November 17

On November 17, the Shanghai Composite Index fell 0.48% and closed the day at 3,382.91. The SPDR S&P China (GXC) rose 1.8% on November 16.


Domestic funds 03.06.2013
Equity flows flashing signs of exhaustion with weekly outflow

Domestic equity fund flow was negative in the last week of February after a strong seven week run The Investment Company Institute (ICI) reported that domestic equity mutual funds had…

Total mutual fund 03.06.2013
Total mutual fund flow slows in final week of February

The aggregate of total mutual fund flow in the final week of February slowed from a break neck pace but still logged its eighth consecutive positive inflow The Investment Company…

Current versus historical price to book 03.05.2013
Leading banks including JPM, C, and GS still trading well below historical book value

Despite a strong run over the past year, leading bank stocks are still trading well below historical book value Each sector within the S&P 500 generally has its own valuation…

Revenes from trading 03.05.2013
Trading is still the most important business line at GS and MS

Despite a de-emphasis by both regulators and company executives, trading is still a substantial contribution to revenue at Goldman Sachs and Morgan Stanley The investment banking sector is sometimes viewed…

Equity underwriting league table 2 02.25.2013
Equity underwriting league table is a group of 5 including MS, GS, JPM, C, and BAC

Banks with large equity underwriting desks should benefit from a stable stock market and rising valuations Equity underwriting, or underwriting IPOs and follow on offerings, is a well followed industry…

Bond outstandings 02.25.2013
Morgan Stanley and Goldman have bigger bond exposure than Bank of America and Citi

Bond underwriting exposure could be risky for investment banking departments, as interest rates begin to rise and refinancing slows Investors generally have a good understanding of various aspects of the…

M&A underwriting league table 02.26.2013
M&A activity was down in '12 but GS, MS, JPM, and Citi topped the tables

M&A activity is a key profitability driver of investment banking revenue Although total M&A volume was down in 2012, it was higher for the largest banks, including GS, MS, and…

Basel III 02.25.2013
Citigroup and Bank of America already in compliance with forming Basel III

Citigroup & Bank of America are already in compliance with Basel III capital ratios and have enough capital to operate with a margin of safety If excess capital is deployed,…

Equity flows 02.27.2013
Weekly equity fund flow still favoring international funds benefiting BEN

As chronicled in our article, Equity fund flows continue higher but international flow still stronger than domestic, we outlined that the long-term trend of investor inflow into equity mutual funds…

Bond v Equity 02.05.2013
Bond flows are accelerating not decelerating to start 2013

In our recent article, The real bull market is in bonds, we highlight that over the past year that there has been a huge discrepancy between stock and bond mutual…

Market gains 02.07.2013
While the stock market is close to a new high, the market's PE ratio is not

As the S&P 500 index approaches new highs not seen since 2007, the current market’s P/E is some 2 multiple points lower than in ’07 which means that stocks are…

Pensions Stocks 02.13.2013
Underfunded pensions could be assisted by higher returning stocks

As outlined in our article, Corporate pension plans now hold the lowest stock allocation in history, corporate pensions now have the lowest exposure to equities in history and will likely…

YTD bond v stock 02.20.2013
Record start this cycle for both stock and bond flows

While many strategists on Wall Street are speculating that the “great rotation” from bonds to stocks has begun after solid, consistent gains in fixed income throughout this economic cycle and…

Bond v Equity 2 02.05.2013
The real bull market is in bonds which benefits LM, BEN, and BLK

While equity markets are off to a fast start in 2013 up over 5% after a 13% increase for the S&P 500 in 2012, a bull market in stocks is…

FA 1
Market cap to AUM is a great valuation metric for asset managers

Like many things in life, size matters, and in the asset management industry this paradigm is no different. A large asset management company is able to enjoy substantial incremental operating…

Flows 1 01.31.2013
Equity fund flows continue higher but international flow still stronger than domestic

With equity markets continuing to trend higher across the globe to start the year, mutual fund flow continues to improve as investors allocate more money to stocks to potentially capture…

New Product chart 1 01.28.2013
Plenty of room to grow for ETFs against mutual funds

Not since the introduction of the first S&P 500 index fund by Vanguard in 1976 has there been such a tectonic shift in the asset management industry driven by a…

Claims 01.25.2013
Why jobless claims are worth tracking

While watching the morning spin of a national financial news show can result in an alphabet soup of what drives markets and the $16 trillion U.S. economy,

Morningstar 2 01.24.2013
Why Morningstar ratings matter

Morningstar is best known for helping investors decipher the past performance of mutual funds and which managers and their products are worth looking at.

Appreciation 1 01.22.2013
Market appreciation drives returns for fund managers

It is said that a high tide raises all boats, however higher average markets can also raise all asset levels.


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